Australians Offered Automated Bill Pay Using Cryptocurrency For Payments
One of the most important things for cryptocurrency enthusiasts is how to make crypto payments a normal thing. Well, thanks to a partnership signed between two financial technology firms, Australians will now be able to pay their bills using virtual currencies.
The cryptocurrency exchange Cointree and the automated billing platform Gobbill, have signed a partnership that will allow citizens to pay their bills with Bitcoin.
@gobbill has partnered with @CointreeAus, enabling users from both platforms to pay household bills using a wide range of crypto coins. Gobbill users will be able to pay their bills by credit card, bank account or cryptocurrency.https://t.co/P0klGJA3DE #bills #crypto #fintech pic.twitter.com/SNM1WjBV5B
— Gobbill (@gobbill) August 20, 2018
The information has been released by both companies in Twitter on August 19, 2018.
As per the press release uploaded by Gobbill, the alliance will allow users of both platforms to pay household bills with the currencies they have stored at Cointree’s wallet. At the moment, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and other currencies are supported at the platform.
Shendon Ewans, CEO and co-founder of Gobbill, explained that the partnership would add value to customers that wanted to pay using virtual currencies.
About this partnership and possibility, Mr. Ewans commented:
“Digital currencies are becoming mainstream, and our view at Gobbill is to support customer choice and convenience. We anticipate a surge in the number of customers who would like to pay their bills in crypto in the coming years. Our partnership with Cointree will cater to this market and ensure Gobbill continues to remain ahead of the curve when it comes to allowing our users to pay their bills automatically, while knowing they’re protected from fraud and scams.”
One of the main topics in the crypto community is how to increase adoption and make virtual currencies mainstream. This partnership will help the market go into this direction in hard times for the crypto market that is in a bear trend since the beginning of the current year.
At the moment, the service is aimed at small businesses and households with small bills. Industries and other bigger consumers will have to wait some more time before they are able to pay using their virtual currencies.
The partnership will help individuals and users to pay their bills automatically and keep them away from scams and fraud. Gobbill is als positioning itself as a better player in the crypto market.
Cointree has managed more than 100 million transactions since it was created back in 2013. And indeed, the company already had a service that allowed users to pay their bills using virtual currencies.
“We are excited at Cointre to be partnering with Gobbill,” explained Cointree CEO, Shane Stevenson. “This is a great opportunity for both companies to leverage our strengths and enable Australians to pay everyday bills with their choice of digital currencies.”
It is important to mention that the announcement of both companies is also part of a broader plan of expand internationally into new markets.
Australia has seen an important number of individuals pay their bills using cryptocurrencies. For example, there was an increase of 3300% in bill payments using cryptocurrencies in just three years in Australia.